user
Tell me how would you respond to the following request.
Calculate the compound interest on a deposited of $1000 with the interest rate of 5%.

assistant
The compound interest on a deposited of $1000 with an interest rate of 5% is $51.11. This means that the total amount payable would be $1051.11. The formula used to calculate compound interest is A = P (1 + r/n) ^ nt, where A is the final amount, P is the principal, r is the rate of interest, n is the number of times interest is compounded per year, and t is the time in years.